While CFA Institute believes that the FASB and IASB proposals for investment company accounting are a step in the right direction, digging into the details of the proposed changes uncovers some problematic issues.
In the aftermath of the financial crisis, we saw protests against the use of fair value to measure financial instruments as well as complaints regarding how fair value measurements were derived. Sandra Peters, CFA, examines how regulators are responding to concerns.
Did Bank of America have a profit or loss in 2011? Finding the answer requires digging into the company’s financial reports. While the net income stares you down on the face of the income statement, the loss hides behind a curtain known as “comprehensive income.” But that is about to change.
In a recent Reuters article, the Bank of England's Andrew Haldane called for a "radical rethink" of accounting rules for banks. While it's true that banks (especially large ones) pose a significantly greater systemic risk than other industries, Vincent Papa, CFA, finds it hard to see how new bank accounting rules would benefit investors.
As New Year’s resolutions are contemplated around the world, we have one suggestion for the accounting standard setters — let this not be a year of moving one step forward and then two steps back when it… READ MORE ›
On 9 December, CFA Institute took part in a roundtable on financial institutions risk disclosure that attracted more than 70 participants and observers from constituencies considered pivotal in shaping observed financial reporting practices. They included accounting and audit standard… READ MORE ›
The last 10 years have seen wide-ranging and intense activity on the accounting standard-setting front, including the convergence project to reduce existing differences between international accounting standards and U.S. GAAP as well as financial crisis-related projects. The last decade… READ MORE ›
Developing a framework for disclosure has been a popular topic lately. There are many efforts underway around the world — by the Financial Accounting Standards Board (FASB), the European Financial Reporting Advisory Group (EFRAG), the United Kingdom Financial Reporting… READ MORE ›
The reporting technology known as eXtensible Business Reporting Language (XBRL) is gaining acceptance by regulators the world over. As this electronic reporting platform expands, it will enhance financial analysis by opening access to more and more data that was… READ MORE ›
CFA Institute has released a study on the need to improve the quality of financial instrument risk disclosures among financial and non-financial institutions. The study comes at a time when investor vulnerability to the risks of on- and… READ MORE ›
On 20 September, CFA Institute conducted a webcast on “The Current State of Accounting and Reporting for Financial Instruments.” Aimed at providing an investor-focused overview of FASB and IASB projects on financial instrument accounting, the discussion comes… READ MORE ›
Marking its second decade in operation, the IFRS Foundation — the oversight body of the International Accounting Standards Board (IASB) — is soliciting input on its future strategy as part of a review covering its mission, governance, standard-setting process,… READ MORE ›
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